Bitmain, the largest manufacturer of cryptocurrency mining hardware in the world has released a new Antminer 11 hardware for Equihash Algorithm. The cryptocurrencies that currently follow Equihash protocol are Zcash, Bitcoin Gold, Komodo and so on.
The price of Zcash – $59.87, was trading 6.5% higher on the daily at 11 00 hours UTC on 20th March.
According to Bitcoin, the new Antminer Z11 will provide three times the hashing power than its predecessor Antminer Z9.
The new Antminer is now pre-selling on Bitmain’s official website and will start shipping shortly.
Antminer Z11: Most advanced Zcash Miner
The Antminer Z9 will offer a hashing power of 135 Ksols/s. Built on the most advanced microprocessor technology at Bitcoin, the miner is lighter than Antminer Z9.
Zcash has advocated ASIC resistance for a long time; however, in June last year, the Zcash Community decided to focus on other developments and updates.
Furthermore, Bitmain has also pledged towards transparency and uphold the Zcash community values by maintaining transparent shipment records for the new age miners. According to their blogpost:
To this end, we will tweet real-time updates from our QA teams and shipping warehouse via our official account (on 19th June, all Tweets, including these Z9 mini updates, relating to Antminer series and all other products sold on shop.bitmain.com moved to twitter.com/Antminer_main), using the hashtag #Z9QA.
Zcash Price Analysis
The Zcash ticker increased by 16.5% momentarily on 20th March where the price recorded gains from 0.0138 BTC to 0.0168 BTC. However, it corrected to 0.0148 soon as the HODLERs booked profits in the short term.
A significant rise in trading volume with a huge buy wall pushed the price of Zcash. Nevertheless, it lost is momentum almost instantaneously due to lack of market support.
Moreover, with increased mining efficiencies, the GPU miners who were bearing a loss until now can resort to more profitable hardware for mining Zcash. The increased sustainability for miners reinforces the strength of the Zcash Community.
Do you think the GPU mining age is over with Zcash and Ethererum? Share your views with us.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com